General objectives this unit aims at introducing you to the general principles of law and its application. Allotment of shares of a company kenya company law. Companies in kenya will need to devote greater resources to ensuring that their affairs are run in accordance with the new laws. This constitution is the constitution of the republic of kenya and shall have the force of law throughout kenya and, subject to section 47, if any other law is inconsistent with this constitution, this. A relationship involving the authority or capacity in one person the agent to create of affect legal relations between another person the principal and third parties. M international business law wales, uk joel laurent ll. The companies act is available from the government printers, the kenya law website. Doc company law notes kenya patrick kilonzo academia. Difference between a limited company and a business name registration in kenya. Download cpa atd cs ccp dcm cifa cict dict notes, revision kits and past papers for kasneb courses in kenya. An allotment under kenya laws, is the company s acceptance of an offer to buy its shares. Kenyan company law is heavily based on the principles of english company statute. Published by the national council for law reporting with the authority of the attorney general. The new laws also remove the condition that small companies should have a company secretary just like big firms, as well as the removal of the.
Kpc kenya pipeline company kra kenya revenue authority mitc ministry of industry, trade and cooperatives. The kenyan legal system consists of a mix of kenya statutory written law and kenyan and english common law, mixed with elements of tribal and islamic law. The current companies act, cap 486, allows the incorporation of both public and private unlimited companies by virtue definition and also reregistration of an unlimited company as a limited company. Kenya the law library of congress 2 or through one of his majestys principal secretaries of state, and all such persons shall hold their places in the said council during his majestys pleasure. The body, which was accorded limited authority to legislate on various matters necessary for. Under kenyan law, a private company is a company which restricts the right to. New laws to improve kenya s business environment blog. Icsi house, 22, institutional area, lodi road, new delhi 110 003. Implementing institutions for registering property in kenya have a mandate to enforce and implement various aspects of the land and real property laws. Companies act, 2015, the attorney general makes the following regulations. In terms of the new act, companies are classified as either profit companies or nonprofit companies. Summary of the provisions of the companies act, 2015 that came into operation on 6th december 2015 the companies act, 2015 was assented by the president on 11th september 2015 with only section 2 of the act coming into operation on the date of gazettement on 15th september 2015. Definition of a company a company is a corporation an artificial person created by law.
Allotment of shares of a company admin june 04, 20. Articles of association of total kenya plc company no. Salomans case established beyond doubt that in law a registered company. A company is a business organisation which earns income by the production or sale of goods or services. This document looks at the features, challenges and opportunities in manufacturing in kenya. Since a limited company is a separate person, it can hire. Secondly, principles of land law and conveyancing in kenya are enshrined in a complex web of legal framework. Company law page 2 of 84 separate legal personality of companies and exceptions to that principle in both statute and the common law. Corporate law also known as business law or enterprise law or sometimes company law is the body of law governing the rights, relations, and conduct of persons, companies, organizations and businesses. Hardcopy booklets printed and binded are also available on request and delivery done country wide. General principles and commercial law of kenya ashiq.
To therefore understand land law and conveyancing, one must seek to demystify its historical foundations. These are companies which are formed and registered under that act. Differance between partnership and limited company in kenya. The new companies act 2015 has come into operation in kenya. Features, challenges and opportunities a scoping exercise. Provisions applicable to company that is, or if its subsidiary. Citation and commencement 1 these regulations may be cited as the companies general regulations, 2015. Nonprofit companies, which are the successors to the current section 21. It means the preliminary steps undertaken by the promoters to bring a company into existence. Principles of business law contents study unit title page syllabus i 1 nature and sources of law 1 nature of law 3 historical origins 6 sources of law 9 the european community and uk law. A company secretary can work as a compliance officer in a banking and financial institution and play an important role in ensuring compliance to complicated legal, regulatory and supervisory issues all the time, transcending various.
The public seal of kenya shall be such device as may be prescribed by or under an act of parliament. To begin with, the act makes it possible to form a singlemember company. The companies act audit requirement and other matters. Where can i get a copy of the new companies act 2015. There are companies incorporated otherwise than under the companies act. It discusses the definition of law, the nature of law and its functions.
The new act is both a consolidation of laws on companies in kenya and. One of the salient features of kenya s companies act 2015 is the codification of derivative action the rule in. Laws of kenya environmental management and coordination act chapter 387 revised edition 2012 1999 published by the national council for law reporting with the authority of the attorneygeneral. Summary of the companies act 2015 commencement capita. This entry also covers rules by which partnerships and trusts are governed in kenya, together with albeit in less detail cooperatives and sole. The term refers to the legal practice of law relating to corporations, or to the theory of corporations. An overview 2 common law, equity and statute law 23 custom 25 case law 26 nature of equity 32 application of principles of equity 34. In particular the unit discusses how this law relates to the business world. The new act is both a consolidation of laws on companies in kenya and a modernisation of statute law on the subject. Lecture one introduces you to the basic concepts of business law 1.
General principles and commercial law of kenya ashiq hussain snippet view 1978. It is specifically written for students beginning the study of law for professional examinations such as cpa and cps. That is the focus of pamella agers article which dissects the key portions. Company law notes rohit natani cs, net, 9783110025 page 1 chapter 3 incorporation of a company promotion. English law of property which in itself dates back to the norman invasion in 1066. East african publishers, 1993 commercial law 308 pages. Bba 101 business law i kenyatta university institute of. Kenya s basic legal system and body of law is very similar to that found in western or european countries. An introduction kenya company law is that body of rules which regulates corporations formed under the kenya companies act. It means a person who has been named in prospectus or is identified by the company in annual return. A limited company is a separate entity and is a separate person in the eyes of the law. Guidelines to the companies act, 2015 state law office. To this end, kenya recently passed the nairobi international.
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